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Page 7 of 60 |
Is there any way I can avoid tax? What are some non-recognition provisions? |
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Some of the more common sales or exchanges which are not taxed are like-kind exchanges of investment property, involuntary conversions (such as condemnation, fire loss, etc.) which are replaced with like kind or, in some cases, similar in service or use property within specified time periods, repossessions of real property sold to a buyer who defaults, and certain exchanges of life insurance contracts.
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